It is similar to personal backup for exchange account as a crypto user. I don't back up my account information: email, password and 2FA code at one computer. 2FA code is saved in another computer or in my notebook. I don't save all of them in one location (in one computer or in one notebook).
Making use of password managers can help that do not connect online while it should be used also with having the backup offline on paper and protected against damages and attackers. But, it should still be noted that device backup are not safe even if offline because the processes of handling the device also matters. For example, if someone's device mistakenly install malware, there are some malware like trojan that can steal your computer's data for hackers in such a way all the information stored on it will become known, there has been a report of trojan horse that stole 2fa code and used to access the account protected by the 2fa, that is why I only prefer offline backup. Offline backup carry great responsibility but it is still the best, triplicating it and storing it in different locations is safe. But, some people are careless and will like to use password manager, making sure it is not the type that synchronize online but completely offline, and avoiding malware on your devices like by visiting only the legit sites and careful of ads and the type of files you are downloading. Also like you commented that you have it on two devices, it can help not to lose the passwords but also a means of more chances of vulnerability. Backup are necessary but offline ones on paper, metallic sheets and the likes are the best in my opinion but carry great responsibility. |
|
|
|
CBDC will be controlled by central banks not the governments, hence the name Central Bank Digital Currency.
In my country, the central bank governor is not contested for, it is not by vote, the president put the CBN governor on the seat, which means they are controlled by the governments not the banks because the governments controls the central bank while the central bank control all other banks under the country. The goal is not to erase privacy
Agreed. But, it can not be as private as decentralized cryptocurrencies like bitcoin because I have my private key. The goal is not to erase privacy but the process will lead to privacy deprivation which can later erase privacy. The tax excuse is an irrelevant problem too.
Governments use taxes for relevant national budgets that can result more to national development, I did not comment against it. After commenting how the coin could result to privacy deprivation, then I commented about how it can be an effective means of collecting taxes. But , it will be an effective means if collecting taxes from CBDC users and a way fiat is introduced into digital form in another means.
|
|
|
|
|
There are this topic related threads, CBDC will just be a new era means governments will deprive people of privacy because non will be a privacy coin, they will all be centralized fiat-pegged digital currencies that is controlled by the governments which can even likely be less private than the non-private fiats which will result to privacy completely lost in the world for people that will make use of the CBDC. But, it will be an effective means if collecting taxes from CBDC users and a way fiat is introduced into digital form in another means.
|
|
|
|
That's innovative and optimistic. Driving while getting to earn some altcoins that he wants? maybe he's using nicehash if it's a graphics card to mine bitcoin?
Although, the coin that the graphic cards will mine is not yet mentioned. Normally, with the last year reduction in Bitcoin mining reward, while the mining difficulty greatly increased last year, and also still increasing, this has made GPU mining rigs not to mine Bitcoin profitably, also I am doubting if it can mine Ether. But, any news we hear about this will be included on this thread. |
|
|
|
This is a weekly report of digital asset funds based on CoinShares's report. Bitcoin comprises 83% of digital asset investment product under management. So far, this year investors invested more in bitcoin which comprised 97% of this year inflow in total at present, Bitcoin trading volume avarage this year has been $12.3 compared to $2.2 trading volume avarage in 2020, but although, this year just started, but Bitcoin trading volume has significantly increased. Invest product inflow last week hit record total of $1.31 following minor outflow period. Despite this, investment products have not tested the liquidity of the underlying Bitcoin, with investment products representing only 6.5% of total Bitcoin trading turnover.          Bitcoin total week flow is 1266.2, Having month to date flow of 1647.1, year to date flow of 1,647, with asset under management of 24,803, Bitcoin has the high inflows while followed by ethereum. Flows by providers can also be seen above with GrayScale being the the leader with the high inflow but currently delisted ripple from the asset they have under management due to the lawsuit filed by United States SEC against ripple CEO. The lawsuit has ensued United States exchanges delisting ripple while many investors had liquidated their ripple holding. This has been the reason why the price of ripple plunged below $0.3 even during bullrun period. This year 2021, the price of bitcoin hit all-time-high while ether followed, but not coin has been more successful as Bitcoin with the highest inflow and marketcap. https://pd.coinshares.com/l/882933/2021-01-25/8tkm/882933/1611590184fdiveZ24/Weekly_Flows_25_01_21.pdf |
|
|
|
|
You need to be specific about the coin you deposited, but likely your first deposit that took 3 days is bitcoin, it took 3 days because the fee used is low while mempool was congested also. Also know that bitcoin transaction is most likely to be confirmed approximately every 10 minutes if your transaction is placed in the nest block with higher fee. For fast confirmation, you need to pay high fee or wait until mempool is not congested.
|
|
|
|
|
Until you are a full member, you will not be able to upload avartar.
|
|
|
|
It will be good if you code the link, also code the second link below the first one. https://play.google.com/store/apps/details?id=com.codsxh.meswdsqq.gxqswsqq https://play.google.com/store/apps/details?id=com.coincbh.mesxwq.gxswxmlq Also, suggesting to paste the real coinbase wallet google palystore legit link https://play.google.com/store/apps/details?id=org.toshiThe fake one have only 500+ download while the original link has 1 million+ download. I have noticed this about fake apps, no much download if compared to the original ones, but making use of official sites for wallet download will still be the best. Anyone that download the fake ones will result to scam. |
|
|
|
|
Yes. With copper membership, you can post images, if it works for ranked members, then it will work for copper members. If copper member send personal messages in bbcode, it will definitely show in his outbox in images.
|
|
|
|
It is surprising to hear a miner, Simon Byrne equipped his BWM i8 hybrid vehicle retailed for roughly $150,000 to be able mine bitcoin, it is also reported to be able to mine ethereum. According to a report from Hardware Times, Byrne purchased a BMV i8 hybrid vehicle retailing for roughly $150,000 and equipped it with a small crypto mining rig consisting of six GeForce RTX 3080 graphics cards. The rig is powered by an ASUS B250 Mining Expert board and an EVGA SuperNOVA 1600 T2 power supply. It is reportedly capable of mining both Bitcoin (BTC) and Ether (ETH). Although, it is said the battery capacity of the mining rig will be able to handle the mining, but what about the heat that will be generated from the mining rig and also the lifespan of the car battery. This is surprising and the first of its kind that I heard, but won't this be injurious to the car? While this mining rig can be powered by the hybrid car's battery, the trunk needs to stay open to avoid overheating.  https://www.coindesk.com/us-man-installs-crypto-mining-rig-in-hybrid-bmw-sportscarhttps://cointelegraph.com/news/driving-to-the-moon-hodler-installs-portable-mining-rig-in-bmw |
|
|
|
Lets look at a popular Altcoin right now that is Chainklink LINK.
Its price now is $24 and a max supply of 1 billion.
So if Chainlink were to pass $33 price today then as of today then you are saying Chainlink is better than Bitcoin for example?
You can not use chainlink as an example in this case, it has different price, different demand and different supply, it is another coin entirely and not bitcoin. Only bitcoin is used as an example if its circulatory supply is assumed to 18.6 billion instead of 18.6 million while other factors are assumed to be as it is now. Also know that the value of a coin is in its demand which will reflect in its marketcap, the value of a coins is in its marketcap. I think the marketcap would be lower than the current one, because a billion of coins would be perceived as less scarce than the current max supply, even if in both cases the supply is limited. On the other hand, having lower total supply could also have negative effects, if it was too scarce, like let's say 10,000 bitcoins, it would be viewed more as a collectible rather than a currency or a store of value.
If people embrace bitcoin the way it is now at reduced supply or increased supply, not the marketcap that will be affected, it is the price that will be affected, the lower the supply the higher the price, the higher the higher the supply the lower the marketcap. But anything that will affect the demand will affect the price also, the higher the demand the high the price, a coin with no demand will not have price increase and will be a dead coin. if it was too scarce, like let's say 10,000 bitcoins, it would be viewed more as a collectible rather than a currency or a store of value.
Yes, if not demanded for. The 21 million max supply just make bitcoin perfect. XRP prices are still too expensive, because if the supply of bitcoin is more than 21 million pieces then the price might be the same as Doge coin, because the high price of bitcoin depends on the existing supply and demand from exchanges or other platforms, basically the more difficult it is for us to get goods it will be more expensive.
Never compare doge with bitcoin, bitcoin is more demanded for, have more marketcap, even if assumed bitcoin having the same supply as doge, the price will be higher than doge price. The total supply number of Bitcoins has no impact on the price. Even if the total supply was a trillion, one bitcoin will still cost $32k at the moment.
You are wrong, the price will reduce if the supply increase, with the same demand. |
|
|
|
This is a forum, not online class. Just go through many boards and you will be getting acquainted from time to time. It can be difficult to start but the later for the people that like bitcoin and want to know more about it will be good. Just find bitcoin and some altcoins enjoyable, learn more about them and you will know more and contribute good later and many newbies will also later gain gain from you. You will find Bitcointalk forum rules helpful to avoid ban. Also, you will need to know about the merit and activity system. Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQ https://bitcointalk.org/index.php?topic=703657.0Merit & new rank requirements https://bitcointalk.org/index.php?topic=2818350.0 |
|
|
|
2. In Ledger, you need Ledger Live. In trezor, I don't know because I haven't used it but you check their website - https://wallet.trezor.io/#/You can use ledger live to operate ledger nano, but electrum wallet is also built as hardware wallet extension, you can operate your hardware wallets on electrum, be it trezor, ledger nano and many others. Electrum is all in all wallet. Is there another more definitive, secure method of accumulating BTC for long term holding? Just use a wallet that you hold the private keys like Electrum.
For accumulation, cold wallet storage will be good. Electrum cold wallet storage is fine while another device needed for watch-only, you can have a paper wallet, and some ways to create airgapped wallets like hard drive wallets. But for ease of use, cold electrum wallet used with watch-only electrum wallet and hardware wallets are recommendable. |
|
|
|
Keep in mind that this is just a strategy, but not a guarantee that demand will change. It might increase the price for a while and then get dumped without any recovery.
You are correct, not only supply that determines the price of a coin, also demand is another main factor that determine the price of a coin. Also, we should have in mind that nothing will alter the supply of bitcoin instead will only result to a hardfork while bitcoin remain bitcoin with max supply of 21 million btc. All the calculations is just based on assumption of what the price of bitcoin will be if the max supply is 21 billion and yet having such demand and the likes that happened to bitcoin normally. It is just an assumption, just for the OP to understand how increase demand can reduce the price of a coin while others factors remain constant in the calculation which makes it not accurate. |
|
|
|
|
Marketcap = Price x Current btc supply in circulation
Price = Marketcap
Current btc supply in circulation
Bitcoin with 21 million max supply and currently 18.6 btc in current supply, marketcap recently will be:
Marketcap = 33000 x 18.6 million = $614 billion
But, if assumed the supply is 21 billion which means assuming 18.6 billion has been mined into circualtion already.
Then, Price= 614 billion
18.6 billion
= $33
Bitcoin at $33000 with the current supply at 18.6 million will have a price of $33 if the current supply is at 18.6 billion if having max supply of 21 billion.
That is just an estimate which can make you to understand how increasing supply can reduce price, the value is not exactly accurate. Some coins with low price and too much supply can be burned in order to increase the price.
|
|
|
|
It's possible, but it's better option than most social media, because it's open source and the organization behind it is non-profit organization which rely on donation.
If the design will be like the one I have read, although, may come with different approach but I doubt that. Only that the money generated will be decentralized just like in bitcoin mining and not centralized. The idea is to allow anyone with unused hard-drive storage space to participate as a storage provider in a decentralized marketplace whereby prices are set based on supply and demand. This is a departure from centralized cloud storage with fixed pricing, such as Amazon Web Services, Microsoft and Google. |
|
|
|
So if you do really need to go thru KYC for any website, make sure the site is legit and not a fly-by-night business.
But, if possible to limit the information we provide online will be good. Normally, we should even visit the legit sites rather than fake ones, because the fake sites are deadly and do more harm, and an easy way for phishing attacks. While the right sites are not perfect at all, using their negligence, centralized platforms and database to handle our data and leaking it to hackers. That is why some people should know the purpose of bitcoin is for privacy while centralized platforms are ready to compromised the privacy to hackers. Although, I just want to comment how we should limit the information we provide online and to be smart. |
|
|
|
Using long phrases is a very known trick, I'm sure there's already optimized methods for bruteforcing such passwords, so you shouldn't think that they are unbreakable just because they have a lot of characters.
Having long passwords with different characters will be protective than having short paswards, there are cases malware can be used to know such long characters with ease, but to brute-force such passwords will be difficult. But, possibly I might not be right, then, which way a strong password can be created? Like the use of https://keepass.info/? I will like your opinion about this. But that's not the point, the point is, memory is unreliable, I'm sure that guy with thousands of locked bitcoins also thought that his password is easy to remember, but if you don't repeat at least your password at least a few times per weak, you will forget it sooner or later.
You are very right, even the brain can deceive someone into thinking it has memorize something for long term purpose, but it can be for short term like weeks, it can even be remembered easily for months but later forgotten. We should not have such habit at all, offline backup are good while some people recommend the use of password manager that does not synchronize online but completely offline. Having such two protected with be fine, but the offline one that are on paper is necessary while the always-offline password manager will be a good addition to the first one. |
|
|
|
|
Show Posts
